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Nigeria’s Unemployment Rate Rises By 0.8 Per Cent In Q3 2023 – NBS

Nigeria’s unemployment significantly rose in the third quarter of 2023 by 0.8% from the second quarter 2023, the National Bureau of Statistics (NBS) has said.
The NBS, in its ‘Nigeria Labour Force Survey Q3 2023’ report published on Monday, disclosed that the country’s unemployment rate increased sharply from the 4.2% recorded in Q2 2023 to 5.0% in Q3 2023.
According to the Bureau, the labour force participation rate among the working-age population fell to 79.5% in Q3 2023 compared to 80.4% in Q2 2023.
In its breakdown of the statistics, the NBS said, “The employment-to-population ratio was 75.6% in Q3 2023 with a decrease of 1.5% compared to a ratio of Q2 2023.
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“The combined rate of unemployment and time-related underemployment as a share of the labour force population (LU2) increased to 17.3% in Q3 2023 from 15.5% in Q2 2023.
“About 87.3% of workers were self-employed in Q3 2023.
“The proportion of workers in Wage Employment in Q3 2023 was 12.7%.
“The unemployment rate increased significantly in Q3 2023 at 5.0%. This is an increase of 0.8% from Q2 2023.
“The rate of unemployment among persons with post-secondary education was 7.8% in Q3 2023.”
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According to the nation’s main statistical agency, the unemployment rate among youth aged (15-24 years) was 8.6% in Q3 2023, and got an increase of 1.4% compared to Q2 2023.
“The unemployment rate in urban areas was 6.0% in Q3 2023, a slight increase of 0.1% from Q2 2023.
“Time-related underemployment in Q3 2023 was 12.3%, showing a slight increase of 0.5% from the rate recorded in Q2 2023. This shows an increase of 1.4% compared to the rate in Q4 2022.
“4.1% of the working-age population was in subsistence agriculture in Q3 2023.
Informal employment rate in Q3 2023 was 92.3%, while Q2 2023 was 92.7%.
“Percentage of youth Not in Employment, Education or Training (NEET Rate) was 13.7% in Q3 2023,” the report added
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Group Throws Weight Behind Benin Monarch’s Decision On Iyaloja

Group known as Edo Art and Cultural Heritage Institute (EACHI) has thrown its weight behind Oba of Benin, Ewuare II, on the royal father’s stance on the traditional leadership of markets in the Benin Kingdom.
A statement isdued by Okpioba Osaro Idemudia, on behalf of the group, said the “institute aligns with the Oba’s stance that the Iye-Eki is the only recognized traditional head of the markets, and we believe that this position should be respected and preserved in accordance with our cultural heritage.
“EACHI stands firm on the ground that the Iye-Eki holds a significant and revered position in the Benin Kingdom, serving as the main market traditional head. We believe that any attempts to impose external leadership structures that contradict our cultural norms and traditions would undermine the rich heritage of the Benin people.
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“We are proud of our royal rather, for his unwavering commitment to upholding the cultural values and traditions of the Benin Kingdom.
“EACHI reassures the people of Edo State and the broader community that we will continue to support and promote the preservation of our rich cultural heritage.”
The group, while calling on Edo sons and daughters in home and in diaspora to “stand in unity to support our royal father Oba Ewuare II’s disapproval of IYALOJA,” commended
Edo market women for talking a bold stand against the imposition of IYALOJA
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JUST IN: Tinubu’s Minister Resigns Amid Allegations

The Minister of Innovation, Science, and Technology, Geoffrey Nnaji, has resigned from President Bola Tinubu’s cabinet amid controversies surrounding his academic records and allegations of certificate forgery.
Nnaji, who was appointed in August 2023, announced his resignation in a letter to the President on Tuesday, expressing appreciation for the opportunity to serve.
Confirming the development in a statement on Tuesday, the Special Adviser to the President on Information and Strategy, Bayo Onanuga, said, “President Bola Ahmed Tinubu has accepted the resignation of Geoffrey Uche Nnaji, the Minister of Innovation, Science, and Technology, following some allegations against him. President Tinubu appointed Nnaji in August 2023.
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“He resigned today in a letter thanking the President for allowing him to serve Nigeria. Nnaji said he has been a target of blackmail by political opponents. President Tinubu thanked him for his service and wished him well in future endeavours.”
Nnaji’s resignation comes amid a lingering controversy over alleged certificate forgery and questions surrounding his academic qualifications from the University of Nigeria, Nsukka.
Nnaji and the Enugu State Government had traded words over allegations that he presented forged certificates.
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The dispute intensified after the Federal High Court in Enugu rejected Nnaji’s bid to stop the University of Nigeria from releasing his academic records.
The court had ruled that the institution was within its rights to release the minister’s academic details in response to a freedom of information request, a decision that fuelled further public scrutiny.
Nnaji, however, maintained that he was being blackmailed by political opponents determined to tarnish his reputation.
News
UNIBEN Bans Students’ Sign-out Celebration

The University of Benin (UNIBEN) has prohibited all forms of sign-out celebrations by graduating students.
The ban is contained in a circular by the university’s Registrar, Mr Ademola Bobola, on Tuesday in Benin.
In the circular addressed to members of the university community, the management warned that violators risk severe disciplinary actions, including rustication, expulsion, or withdrawal of certificate.
Bobola said the decision was reached at a meeting on Monday, where it reaffirmed an earlier resolution of the university’s Senate banning such activities on campus.
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“The management declared that no sign-out celebration of any kind, including signing on T-shirts and playing of music, will be tolerated,” he said.
He stated that the university would not condone any form of disorderly conduct or unauthorised gathering during or after examinations.
“Indiscriminate parading around the campuses in any brand of vehicle will not be permitted,” the circular warned.
According to him, unauthorised vehicles will not be allowed into the campuses all through the last week of the second semester examination.
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“The management also prohibited large gatherings around faculties, schools, or institutes after examinations.
“Photographers will not be permitted to put up photo stands or galleries for the purpose of such celebration,” he said.
He said the management equally cautioned parents and guardians of final-year students against visiting campus premises during the final days of examinations.
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“Parents and guardians of final-year students are advised to stay away from the Faculty, School, or Institute premises, especially on the last day of examination,” he said.
Bobola emphasised that the university’s stance was aimed at maintaining order, discipline, and academic decorum on campus.
“Members of the university community are kindly invited to note the above position for strict compliance.
“Any violation will attract severe disciplinary sanctions, including withdrawal of certificate, rustication, and expulsion of violators,” he warned.
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